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Alan Mulally to continue advising successor Mark Fields after stepping down in July

Alan Mulally, outgoing chief executive of Ford Motor Co., plans to continue advising successor Mark Fields, while keeping in contact with the carmaker. Mulally is slated to step down from his post in July. “I’m going to stay close to Ford going forward,” he told Bloomberg Television in an interview.

Mulally was expected to step down by the end of 2014, but Ford said the CEO had decided to exit six months earlier than planned to make way for Fields. People with knowledge of Mulally’s plans told Automotive News that the CEO has been lining up a corporate post -- probably as a board director or chairman.

Mulally said the Bloomberg TV interview that he had fallen in love with Ford, adding that it is “a great company.” Mulally jumped from Boeing Co. to Ford in 2006, and became the mastermind of the carmaker’s turnaround from a near bankruptcy.

Read the entire article Alan Mulally to continue advising successor Mark Fields after stepping down in July

Former Ford CEO Mark Fields rumored to be sent home with $57.5 million

You probably heard about Ford’s CEO Mark Fieldsdeparture from the company. Fields has spent almost three years with the company, and now, he is going to be replaced by Jim Hackett, chairman of Ford Smart Mobility.

If you didn’t know why he was ousted, the former CEO had a difficult situation to handle - that is “to develop an autonomous car, and to be a worldwide guy”. The company basically gave Fields an impossible task considering the timeframe he was given.

The company even criticized him earlier this month during the annual shareholder meeting regarding the Michigan-based company’s sluggish financial results. This issue began when the company’s market capitalization fell behind Tesla’s earlier this year. Some even say that this action by Ford was unfair for Fields, since it is very difficult to compete with Google’s autonomous car space, the Alphabet, and Elon Musk of Tesla.

Read the entire article Former Ford CEO Mark Fields rumored to be sent home with $57.5 million

Ford names Jim Hackett as its new CEO

Ford Motor Co. now has a new man on the top, and he goes by the name of Jim Hackett. Effective May 22, 2017, Hackett is named the new president and chief executive officer of Ford, replacing erstwhile top honcho Mark Fields. In his new role, Hackett is now reporting directly to Executive Chairman Bill Ford.

Along with Bill Ford, Hackett outlined three main objectives for the carmaker: to sharpen Ford’s operational execution; to modernize the company’s present business; and to transform the carmaker to meet future challenges.

Hackett was formerly vice chairman of office furniture giant Steelcase (2014 to 2015). Before that, he was the company’s CEO, until his retirement in February 2014. In total, Hackett spent around 30 years in Steelcase, and is widely credited in guiding the company to becoming a global leader in the office furniture industry. He was instrumental in transforming Steelcase from just a traditional manufacturer to an industry innovator positioned as the #1 in the world.

Read the entire article Ford names Jim Hackett as its new CEO

Ford CEO Mark Fields believes self-driving car is possible in half a decade

Mark Fields, chief executive of Ford Motor Co., said it is possible that a carmaker would launch a self-driving vehicle within the next five years, although he discounted his company to have the honor as it is focusing on driver-assist technologies. A number of carmakers are working to develop self-driving cars, which should be an answer for a safer transportation.

Daimler AG CEO Dieter Zetsche unveiled at the International CES its own concept of an autonomous car -- the Mercedes-Benz F 015. The Mercedes concept car features four seats that can face each other, rather than the road.

The Mercedes-Benz F 015 is fitted with six screens to enable passengers to monitor information about the vehicle and the outside world through technology that responds to eye movements and gestures.

Read the entire article Ford CEO Mark Fields believes self-driving car is possible in half a decade

Ford Motor Co. has commenced building the aluminum-bodied 2015 F-150 pickup, vowing to fully stock its dealers with the vehicle in the second quarter of 2015, according to chief executive Mark Fields. Ford will start shipping the first stock F-150s to dealerships in next month and the retail orders in February.

The carmaker had to spend 10 weeks to install new equipment in its Dearborn truck plant in Michigan to prepare for the production of the new F-150, which requires different assembly techniques from its predecessor, including riveting, adhesive bonding and laser welds.

Once Ford’s Dearborn site reaches full production speed, Ford start revamping its Claycomo assembly plant in Missouri in January to enable it to build aluminum bodied F-150. The launch of F-150 production at the Dearborn site was presided by Fields and Ford Executive Chairman Bill Ford.

Read the entire article CEO Mark Fields says Ford dealers should be fully stocked with F-150s in Q2 of 2015

Ford’s new chief executive, Mark Fields, has started his first slew of major human resource changes at the carmaker. To start off, he named Kumar Galhotra, currently vice president of engineering, as president of the Lincoln brand, effective September 1, 2014. Galhotra will report directly to Fields. This marks the first time Lincoln has had its own president since 2007 when it was still part of the Lincoln-Mercury division.

In naming a new president for the brand, Fields said that “now is the right time for the next chapter in accelerating Lincoln as a world-class luxury brand.” He remarked that Gaholtra boasts of over 25 years of global product and business experience.

The move means that executive vice president of global sales Jim Farley will be relieved of his executive responsibility for Lincoln. Farley, however, will still be involved in Lincoln marketing. Farley is credited to pioneering a push for excellence in customer service.

Read the entire article Mark Fields names Kumar Galhotra as new president of Lincoln

Ford Motor Co. has created the Alan Mulally Leadership in Engineering Scholarship program – a 1$- million program for engineering students in honor of its retired chief executive. The program will provide 10 one-time $10,000 scholarships annually for 10 years to sophomore or junior engineering students at universities globally and will be launched in spring 2015 and run for 10 years.

Ford Motor Co. and the Ford Fund will each shoulder half of the amount intended for the program. Mulally, who is an engineer by training, placed technology at the forefront of his push to reinvent the US carmaker.

Ford Executive Chairman Bill Ford said in a statement that Mulally’s engineering background as well as data-driven decision-making paved way for the “extraordinary leadership” he provided at the carmaker.

Read the entire article Ford sets up scholarship program to honor ex-CEO Alan Mulally

Alan Mulally is very proud of his eight-year performance and has no regrets as chief executive of Ford Motor Co., he said during his final annual meeting at the carmaker. He also gave a vote of confidence to his successor, Marks Field, saying that the leadership team, the management system and the strategy is solid.

Fields, Ford’s chief operating officer, will succeed Mulally as CEO effective July 1, 2014. Mulally has disclosed that he is retiring on the said date, which comes six months earlier than planned.

Mulally came on Ford board in 2006 and was responsible for turning around the beleaguered carmaker by globalizing new models, trimming costs, improving technology and revamping its offerings with fuel-efficient vehicles.

Read the entire article Alan Mulally has no regrets in the 8 years spent as CEO of Ford

If last week was just a rumor, today it became official: Ford CEO Alan Mulally will retire on July 1 and Mark Fields will be named Ford president and chief executive officer. As you may know already, Alan Mulally, 68, has been at Ford for almost eight years and he was the man who managed to transform and position the company as one of the world’s leading global automakers.

Mulally’s One Ford plan achieved a profitable growth, with 19 consecutive quarters of profitability. Moreover, during Mulally’s eight years at Ford, the American carmaker developed its strongest product lineup in its history. According to the official press release, the transition is July is six months earlier than anticipated as Mulally recommended to accelerate the timetable based on the readiness of Ford’s leadership team.

Mark Fields, 53, was named Ford’s chief operating officer (COO) in December 2012 and since then, he has been leading Ford’s global business operations and most skill teams such as product development, manufacturing, purchasing, as well as marketing, sales and service.

Read the entire article Official: Ford CEO Alan Mulally will retire on July 1, will be replaced by Mark Fields

Mark Fields will be soon named as the next chief executive of Ford Motor Co., two people privy with the matter told Bloomberg. The pending announcement will also disclose when current CEO Alan Mulally will retire from Ford. The sources said that Mulally will proceed with plans to step down before the end of 2014 with now chief operating officer Fields as his successor.

The sources said Ford may announce the decision as early as May 1, 2014. The baton pass to Fields will put an end to one of Ford’s chapters, during which Mulally was able to prevent the carmaker from going to bankruptcy while betting on a $23-billion loan. Mulally was able to turn around the then-beleaguered Ford by cutting costs and by overhauling its vehicle lineup.

Executive Chairman Bill Ford remarked that when great CEOs leave, there is “chaos behind them.” Ford disclosed to Bloomberg TV that he and Mulally have discussed about the final act of a great CEO -- a great transition. Bloomberg’s sources said the carmaker is making the announcement to provide clarity on its leadership and an orderly transition of power.

Read the entire article Ford set to announce appointment of Mark Fields as next CEO as Mulally retires

Alan Mulally is set to retire from his current post as chief executive of Ford Motor Co. by the end of the year, but that does not mean he is set to exit from the carmaker as well. People privy with Mulally’s plans told Bloomberg News that Ford’s top honcho is almost nailing down on a new post at the carmaker, possibly as a board director or chairman.

The near-decision on Mulally’s part is prompting Ford to announce possibly on May 1 his retirement as well as the appointment of current chief operating officer Mark Fields as new CEO, the sources said. People privy with Ford said Mullaly will turn over control to Fields before the end of 2014.

The sources added that Mulally plans to remain a player in the corporate world, providing voice to the role of manufacturing and innovation in America. With 45 years of top-notch experience at Boeing Co. and Ford, Mulally has become an expert on management and doing business in Asia, and has even advised United States President Barack Obama on international trade.

Read the entire article Alan Mulally is eyeing Ford board post after retirement as CEO

Ford Motor Co. hiked the compensation of chief executive Alan Mulally by 11 percent in 2013 to $23.2 million after logging record earnings in North American and Asia. Mulally received $2 million in salary, $5.88 million in bonus and $15.3 million in stock, options and other compensation, Ford said in a regulatory filing.

In 2012, Mulally received $2 million in salary, $3.95 million in bonuses and $15 million in other compensation. Mulally, who said in January that he would remain at Ford through 2014, is credited with creating a more collaborative culture at the carmaker and with leading a turnaround that allowed it to avoid federal bailouts and bankruptcies that caught up with rivals General Motors and Chrysler.

Ford has earned a total of $42.3 billion in the past five years after losing an accumulated $30.1 billion from 2006 through 2008. “He’s worth every penny,” said Bernie McGinn, chief executive of McGinn Investment Management in Alexandria, Virginia, told Bloomberg. He added that while people forgot how difficult and revolutionary Mulally’s action was, Ford have had four years of good products and is winning.

Read the entire article Ford hikes compensation of Alan Mulally by 11 percent in 2013 to $23.2 million

Ford Motor Co. chief executive Alan Mulally has received $13.8 million in stock for the carmaker’s performance in 2013. Ford also gave its Mulally 613,747 stock options as part of an incentive plan for 2013, according to a filing with the United States Securities and Exchange Commission. Mulally cannot sell the 882,352 shares of stock he received until March 4, 2016.

The options, having a strike price of $15.37, vest in thirds annually over the next three years. Ford posted $7.16 billion in earning in 2013 while its shares surged 19 percent. Mulally’s other compensations for 2013, including salary and benefits, will be disclosed in March.

He was considered as a candidate for the top post at Microsoft Corp. last year to be its CEO, but said he will remain at Ford at least through December. Mullaly has led a Ford turnaround that allowed the carmaker avoid the bailouts and bankruptcies that sank predecessors of GM and Chrysler Group.

Read the entire article Ford CEO got $13.8 million in stock for 2013 performance

Ford Motor Co. chief executive Alan Mulally has cleared up matters regarding his possible transfer to Microsoft Corp. "I would like to end the Microsoft speculation because I have no other plans to do anything other than serve Ford," Mulally said in an interview with the Associated Press. Prior to the interview, there had been speculations and reports that Mulally is being considered as one of the candidates to replace Microsoft CEO Steve Ballmer.

In August 2013, Microsoft said that Ballmer is planning to exit from his post. According to Mulally, all the talk about his possible exit from Ford to join Microsoft had become a distraction for the US carmaker.

Mulally’s candidacy to become the next top guy at Microsoft threatened to eclipse Ford’s new-vehicle launches at the incoming Detroit Auto Show and heightened the risk of internal strife among his deputies at the US carmaker.

Read the entire article Ford CEO Alan Mulally denies rumors over Microsoft transfer

Ford chief executive Alan Mulally has been speculated to be one of the possible successors to the top job at Microsoft Corp. However, the speculation is threatening to eclipse Ford’s vehicle introductions and may lead to internal strife among Mulally’s deputies. Ford is planning to introduce 23 vehicles in 2014, which means a very busy year for the company. However, the speculation could become a distraction at a time when Ford needs to focus on “plants, products and people,” according to Michelle Krebs, an analyst for auto researcher Edmunds.com.

She noted that Ford needs to focus on the business as it is launching more products in 2014 than any time in its history. Mulally, Executive Chairman Bill Ford and other company leaders, have been reiterating a 13-month-old plan that called for the current CEO to remain Ford’s top honcho through at least next year.

While the carmaker has established COO Mark Fields as the next CEO, the timing of Mulally’s exit could lead to executive infighting, a source privy with the matter, told Bloomberg. Mulally is renowned for cultivating a more collaborative culture at Ford, which had been plagued by backbiting and dysfunction.

Read the entire article Mulally’s possible entry at Microsoft may distract from Ford’s new models

Ford seems to be preparing to stand on its ground without Alan Mulally, its current chief executive who is poised to leave the carmaker as early as next year. In fact, the weekly executive meetings at Ford were now led by chief operating officer mark Fields, who is widely seen as the successor for Mulally. Two sources told Automotive News that regardless of whether Mulally would be tapped as the next CEO of Microsoft, he is unlikely to stay through 2014.

People within Ford said that the management team that Mulally groomed is now ready for his eventual departure. “Collectively we have helped change the culture - it's not just relegated to one particular individual," Fields told reporters in September, adding that  "it's really about all of us looking to build on the things over the years that have made our culture so strong."

Mulally is considered as the turnaround icon at Ford, having led the carmaker when it managed to stave off bankruptcy and did not receive bailouts from the United States federal government, which fellow Detroit 3 members General Motors Co. and Chrysler did. Mulally formulated the "One Ford" strategy that allowed the carmaker’s business units to achieve economies of scale and boost profit.

Read the entire article Ford is gearing up for Mulally exit next year

Alan Mulally has already reiterated plans to head Ford until at least 2014 after news broke out that he is being considered as a candidate to become the next chief executive of Microsoft Corp. But despite being vocal about his intentions, the media as well as the tech press refused to back down.  It all started when the Web site All Things D and Reuters reported that Mulally was likely to lead the multi-national software corporation. Now, bloggers are jumping on the speculations. Blogger Eric Jackson wrote about Mullaly on Forbes.com under the headline: "Why Alan Mulally Would Be a Terrible Choice as the Next Microsoft CEO." Jackson wrote that Mullaly would nail the job first because he is from Seattle, where Microsoft is based.

Likewise, Jackson noted that Mullaly is a friend of current CEO Steve Ballmer and Bill Gates.  He also noted that Mullaly had no software experience.

On the other hand, Time magazine’s Doron Levin viewed the other way. His column “Alan Mulally Is the Right CEO to Save Microsoft,” remarked that Mulally has "analyzed technical debates for his entire career, from fuselage design to the relative merits of electric and internal-combustion propulsion for cars.”

Read the entire article Blogging world still hot on Mullaly as possible Microsoft CEO

Ford Motor Co. Executive Chairman Bill Ford has reiterated the carmaker’s plan to keep Alan Mullaly as its chief executive. Ford said in an interview today with Bloomberg Television that the plan is that Mullaly is “going to stick around," adding that they “feel really good” about where they are in terms of succession.

Ford is dismissing speculations that Mulally is leaving Ford, AllThingsD and Reuters named him as a possible candidate for the next CEO of Microsoft Corp. People privy with the matter told Bloomberg that Microsoft's board has been looking at several candidates, including Mulally.

The company’s search for its next leader is currently in the initial phase, and the board is still far from making a decision, the sources added. Microsoft’s board has retained Heidrick & Struggles to search for internal and external candidates following a statement by CEO Steve Ballmer in August that he is planning to retire within a year.

Read the entire article Ford is planning to keep Alan Mullaly as CEO

The $20.99 million compensation that Ford Motor Co. CEO Alan Mulally received in 2012 is 29% lower than the $29.5 million he got in 2011 as the company failed to hit several performance targets, according to a proxy statement that Ford recently released. Last year, Mulally had a salary of $2 million, a cash bonus of $3.95 million and stock awards amounting to $14.3 million.

Ford surpassed its goals in quality and cost performance but failed to reach its worldwide goals for profit before taxes, operating cash flow and market share. In the proxy statement, Ford said that its 2012 performance clearly shows that its management team had an excellent performance in an environment that’s highly challenging. Ford surpassed its quality targets based on what things went wrong as well as warranty expenses.

However, Ford's $8 billon profit before taxes didn’t reach its goal of $8.7 billion. Ford’s executive chairman Bill Ford received a $2 million salary and cash bonus of $1.125 million. He received a total compensation of $14.836 million composed of stock options and other performance awards. But smaller bonuses were given to Bill Ford and Mulally since Ford only posted a global automotive operating cash flow of $4.63 billion, which only accounts for 32% of its target. In addition, the company attained only 3% of its target for market share.

Read the entire article Ford cuts CEO Alan Mulally pay as company fails to hit performance targets

Alan Mulally, Chief Executive Officer of Ford Motor Co., will be receiving a bonus from the automaker when his employment ends as reward for leading revival efforts. In a regulatory filing, Ford said that this payment is based on how much Ford contributed to the retirement and benefit equalization plans of Mulally. For 2012, Ford managed to post a net income of $5.67 billion.

Shares at Ford also jumped by around 20 percent, doing even better than the 13 percent improvement reported by the Standard & Poor's 500 Index. In an interview, company spokesman Jay Cooney said that the agreement for the bonus payment held a Feb. 13 date and serves to clarify a previous agreement. Cooney explained that there had been no changes. The accord didn’t mention the amounts. Ford was able to get back investment-grade credit ratings.

Ford has also been able to pay out is first dividend since 2006 based primarily on the success of its namesake brand, which was the lone vehicle line to surpass sales of 2 million units last year in the U.S.

Read the entire article Alan Mulally will receive a bonus from Ford when he retires